Real Estate Valuation, Current Account and Credit Growth Patterns, Before and After the 2008-9 Crisis

Joshua Aizenman, Yothin Jinjarak

NBER Working Paper No. 19190
Issued in June 2013, Revised in March 2014

---- Acknowledgements ----

The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. We thank Livio Stracca and the participants at the conference on "Current Account Imbalances and International Financial Integration," hosted by the European Commission in Brussels, 6-7 December 2013, as well as the seminar at Victoria University of Wellington, for useful comments and suggestions.

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